POWELL SPEECH: PCE INFLATION IN LINE WITH EXPECTATIONS, NO HURRY TO CUT RATES

Federal Reserve Chair Jerome Powell participates in a discussion at the Macroeconomics and Monetary Policy Conference, in San Francisco.

Key quotes:

My first thought on PCE was it came in line with expectations.

February reading is definitely more along lines of what we want to see.

Reducing rates too soon would be very disruptive.

Waiting too long could mean unneeded damage to economy and the labour market.

The economy is strong, no hurry to cut rates.

Make the right decisions is more important, we can handle whatever case.